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Stock-based Compensation (Tables)
9 Months Ended
Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]  
Summary of Weighted Average Assumptions Used in Calculation of Fair Value Using Black-Scholes Option Pricing Model

The grant date fair value of stock options granted during the nine months ended September 30, 2022 was estimated at the time of grant using the Black-Scholes option-pricing model and utilized the following assumptions:

 

 

 

May 20, 2022

 

 

May 9, 2022

 

Fair value of common stock (per share)

 

$

1.14

 

 

$

0.83

 

Expected term (in years)

 

10

 

 

10

 

Risk-free interest rate

 

 

2.78

%

 

 

3.05

%

Expected volatility

 

 

100.00

%

 

 

100.00

%

Dividend yield

 

—%

 

 

—%